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nounpayment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
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nounpayment for insurance
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nouna fee charged for exchanging currencies
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"they encouraged customers with a premium for loyal patronage"nouna prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
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"premium gasoline at a premium price"adjectivehaving or reflecting superior quality or value
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"they paid a premium for access to water"nounthe amount that something in scarce supply is valued above its nominal valuetype of:
Definition that contains premium
- greenmail (corporation) the practice of purchasing enough shares in a firm to threaten a takeover and thereby forcing the owners to buy those shares back at a premium in order to stay in business
- statistician someone versed in the collection and interpretation of numerical data (especially someone who uses statistics to calculate insurance premiums)
- actuary someone versed in the collection and interpretation of numerical data (especially someone who uses statistics to calculate insurance premiums)
- straight life insurance insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured
- loss ratio the ratio of the annual claims paid by an insurance company to the premiums received
- whole life insurance insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured
- ordinary life insurance insurance on the life of the insured for a fixed amount at a definite premium that is paid each year in the same amount during the entire lifetime of the insured
- reinsurance sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured